Tracking Bank Failures: Regulators Close Valley Community Bank in Illinois

Regulators closed just one bank on Friday, bringing the total number of failures this year to 23. The FDIC said Valley Community Bank of St. Charles, Ill., was closed by the Illinois Department of Financial and Professional Regulation–Division of Banking, which appointed the FDIC as receiver. It entered a purchase-and-assumption agreement with First State Bank of Mendota, Ill., to take over the failed bank. Valley Community Bank had about $123.8 million in total assets and $124.2 million in total deposits with five branches as of the end of last year. The FDIC estimated that the cost of the failure to the Deposit Insurance Fund will be $22.8 million. Click on the image below to see the WSJ’s graphic tracking bank failures: